KLA Co. (NASDAQ:KLAC) Stock Position Trimmed by Logan Capital Management Inc.

Logan Capital Management Inc. trimmed its holdings in KLA Co. (NASDAQ:KLAC) by 1.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 62,019 shares of the semiconductor company’s stock after selling 786 shares during the period. KLA accounts for approximately 2.0% of Logan Capital Management Inc.’s holdings, making the stock its 8th largest holding. Logan Capital Management Inc.’s holdings in KLA were worth $48,028,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of KLAC. CVA Family Office LLC boosted its holdings in shares of KLA by 3.7% in the 3rd quarter. CVA Family Office LLC now owns 366 shares of the semiconductor company’s stock valued at $283,000 after purchasing an additional 13 shares during the last quarter. TIAA Trust National Association boosted its holdings in KLA by 0.4% in the second quarter. TIAA Trust National Association now owns 3,249 shares of the semiconductor company’s stock valued at $2,679,000 after acquiring an additional 14 shares during the last quarter. Ameritas Advisory Services LLC grew its position in KLA by 1.2% during the second quarter. Ameritas Advisory Services LLC now owns 1,280 shares of the semiconductor company’s stock valued at $1,055,000 after acquiring an additional 15 shares during the period. Greystone Financial Group LLC increased its stake in KLA by 1.3% during the second quarter. Greystone Financial Group LLC now owns 1,188 shares of the semiconductor company’s stock worth $980,000 after acquiring an additional 15 shares during the last quarter. Finally, Marcum Wealth LLC raised its holdings in shares of KLA by 4.1% in the 3rd quarter. Marcum Wealth LLC now owns 384 shares of the semiconductor company’s stock worth $297,000 after purchasing an additional 15 shares during the period. Institutional investors and hedge funds own 86.65% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on KLAC shares. Oppenheimer raised shares of KLA from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $750.00 to $850.00 in a research report on Thursday, October 31st. TD Cowen reduced their target price on shares of KLA from $760.00 to $725.00 and set a “hold” rating on the stock in a report on Thursday, October 31st. Cantor Fitzgerald reissued a “neutral” rating and issued a $925.00 price objective on shares of KLA in a research report on Tuesday, October 8th. Barclays decreased their target price on KLA from $800.00 to $750.00 and set an “equal weight” rating for the company in a research report on Thursday, October 31st. Finally, Citigroup reduced their price target on KLA from $960.00 to $900.00 and set a “buy” rating on the stock in a research report on Monday, September 16th. Eight research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, KLA currently has an average rating of “Moderate Buy” and an average target price of $812.30.

KLA Stock Performance

KLAC traded up $12.30 during trading hours on Friday, hitting $658.90. 85,605 shares of the stock were exchanged, compared to its average volume of 972,981. The company has a debt-to-equity ratio of 1.65, a current ratio of 2.13 and a quick ratio of 1.48. KLA Co. has a 12 month low of $542.41 and a 12 month high of $896.32. The stock has a 50-day simple moving average of $680.06 and a 200-day simple moving average of $751.66. The stock has a market cap of $88.13 billion, a price-to-earnings ratio of 29.53, a price-to-earnings-growth ratio of 1.38 and a beta of 1.27.

KLA (NASDAQ:KLAC) last posted its quarterly earnings results on Wednesday, October 30th. The semiconductor company reported $7.33 EPS for the quarter, beating the consensus estimate of $7.03 by $0.30. KLA had a net margin of 28.92% and a return on equity of 105.16%. The business had revenue of $2.84 billion during the quarter, compared to analyst estimates of $2.75 billion. During the same period in the previous year, the business posted $5.74 EPS. The company’s quarterly revenue was up 18.5% on a year-over-year basis. Analysts anticipate that KLA Co. will post 30.61 earnings per share for the current year.

KLA Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 3rd. Investors of record on Monday, November 18th were paid a dividend of $1.70 per share. This is an increase from KLA’s previous quarterly dividend of $1.45. This represents a $6.80 dividend on an annualized basis and a yield of 1.03%. The ex-dividend date was Monday, November 18th. KLA’s dividend payout ratio is presently 31.05%.

KLA Company Profile

KLA Corporation, together with its subsidiaries, engages in the design, manufacture, and marketing of process control, process-enabling, and yield management solutions for the semiconductor and related electronics industries worldwide. It operates through three segments: Semiconductor Process Control; Specialty Semiconductor Process; and PCB and Component Inspection.